EP Wealth Advisors LLC Has $247.60 Million Holdings in Broadcom Inc. $AVGO

EP Wealth Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 898,247 shares of the semiconductor manufacturer’s stock after acquiring an additional 18,712 shares during the quarter. Broadcom accounts for 1.6% of EP Wealth Advisors LLC’s portfolio, making the stock its 14th largest holding. EP Wealth Advisors LLC’s holdings in Broadcom were worth $247,602,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AVGO. Sawyer & Company Inc boosted its position in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Broadcom during the second quarter worth $27,000. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom in the 2nd quarter valued at $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom in the 2nd quarter valued at $31,000. Finally, New England Capital Financial Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter worth $31,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Down 11.4%

NASDAQ:AVGO opened at $359.93 on Friday. The firm’s 50 day simple moving average is $363.17 and its 200 day simple moving average is $317.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company has a market cap of $1.70 trillion, a PE ratio of 75.62, a P/E/G ratio of 1.38 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 38.82%. The company’s revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 49.58%.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the sale, the director directly owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 837,433 shares of company stock worth $303,900,352. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Oppenheimer upped their price objective on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays reissued an “overweight” rating and issued a $500.00 target price (up previously from $450.00) on shares of Broadcom in a report on Friday. Benchmark lifted their price target on shares of Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price objective on shares of Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $435.85.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.